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Hidden Fee #2 – Fees to Close Your IRA

Charging fees to close your IRA is one of the more popular ways to keep customers from switching discount brokers.

Fidelity, Bank of America, WallStreet*e, Zecco, TradeKing and Wells Fargo all levy fees to close your IRA. Expect to pay between $30-$75 to transfer your IRA elsewhere.

How does your current discount broker stack up to your expectations? And when is it time to make a change? Get help deciding whether to switch online brokers here.

NEXT – Hidden Fee #3